LHYAX | High Yield Fund Class A | Lord Abbett

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High Yield Fund

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Daily price w/o sales charge as of 03/24/2025

$6.36

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YTD Returns w/o sales charge as of 03/24/2025

1.28%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.
 

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Average Yield to Maturity as of 02/28/2025

7.98%

30-Day Standardized Yield 1 as of 02/28/2025  

6.55%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 02/28/2025

Total Net Assets
$3.55 B
Inception Date
12/31/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.92%
Fund Net Expense Ratio
0.92%
Number of Holdings
699
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 1.75% 9.69% 3.20% 3.45% 4.26% 6.07%
Lipper Category Avg. High Yield Funds 1.82% 9.14% 4.28% 4.35% 4.25% -
ICE BofA U.S. High Yield Constrained Index 2.05% 10.14% 4.96% 4.82% 4.99% 6.35%
w/ sales charge -0.59% 7.29% 2.43% 2.98% 4.02% 5.98%

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 8.39% 8.39% 1.08% 2.75% 4.38% 6.04%
Lipper Category Avg. High Yield Funds 7.67% 7.67% 2.48% 3.64% 4.36% -
ICE BofA U.S. High Yield Constrained Index 8.27% 8.27% 2.98% 4.07% 5.10% 6.31%
w/ sales charge 5.88% 5.88% 0.33% 2.29% 4.15% 5.94%

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Type Assets
High Yield Bonds
Bank Loans
Convertibles
Investment Grade Bonds
Equity
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 02/28/2025 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

24 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

34 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

17 Years of Industry Experience

Supported By 87 Investment Professionals with 18 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 02/28/2025

7.98%

30-Day Standardized Yield 1 as of 02/28/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.55% 6.55%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 1.75% 9.69% 3.20% 3.45% 4.26% 6.07%
Lipper Category Avg. High Yield Funds 1.82% 9.14% 4.28% 4.35% 4.25% -
ICE BofA U.S. High Yield Constrained Index 2.05% 10.14% 4.96% 4.82% 4.99% 6.35%
w/ sales charge -0.59% 7.29% 2.43% 2.98% 4.02% 5.98%

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 8.39% 8.39% 1.08% 2.75% 4.38% 6.04%
Lipper Category Avg. High Yield Funds 7.67% 7.67% 2.48% 3.64% 4.36% -
ICE BofA U.S. High Yield Constrained Index 8.27% 8.27% 2.98% 4.07% 5.10% 6.31%
w/ sales charge 5.88% 5.88% 0.33% 2.29% 4.15% 5.94%

Fund Expense Ratio :

Gross 0.92%

Net 0.92%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofA U.S. High Yield Constrained Index
2024 8.39% 8.27%
2023 10.46% 13.55%
2022 -13.75% -11.16%
2021 6.15% 5.35%
2020 4.49% 6.07%
2019 15.07% 14.41%
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% -
2013 9.69% -
2012 16.50% -
2011 3.15% -
2010 14.31% -
2009 50.51% -
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
Year Q1 Q2 Q3 Q4
2025 - - - -
2024 1.89% 1.21% 4.87% 0.23%
2023 2.69% 1.15% -0.44% 6.82%
2022 -5.43% -10.72% -1.48% 3.69%
2021 1.73% 3.11% 0.63% 0.57%
2020 -16.65% 10.72% 5.69% 7.13%
2019 7.50% 3.77% 0.28% 2.86%
2018 -1.07% -0.04% 2.54% -6.47%
2017 2.82% 1.98% 2.45% 1.00%
2016 2.01% 5.52% 5.46% 2.05%
2015 3.05% 0.86% -4.23% -1.81%
2014 2.92% 3.38% -1.83% -0.95%
2013 3.97% -1.03% 2.51% 3.99%
2012 6.63% 0.36% 5.06% 3.61%
2011 3.82% 1.07% -7.02% 5.73%
2010 4.93% -0.92% 6.33% 3.40%
2009 5.95% 17.32% 14.23% 6.01%
2008 -3.43% 1.99% -7.81% -15.68%
2007 2.98% 0.17% 0.48% -1.17%
2006 2.57% 0.01% 2.80% 4.27%
2005 -1.74% 1.49% 0.87% 0.56%
2004 1.07% -0.32% 4.34% 5.04%
2003 4.06% 8.25% 2.40% 5.41%
2002 1.51% -3.59% -3.78% 6.10%
2001 5.14% -1.67% -3.99% 6.15%
2000 -1.66% 0.99% 0.31% -2.65%
1999 3.43% -0.11% -0.81% 3.99%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 02/28/2025

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Convertibles
Investment Grade Bonds
Equity
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 02/28/2025

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 12/31/2024

  • We continue to focus on investments with higher carry. With high yield spreads south of 300 basis points, and the direction of interest rates still largely uncertain, we continue to target investments that offered higher levels of carry over convexity. We added to several positions over the month, specifically in lower-rated CCCs, as economic data continued to be resilient. Within this rating cohort, however, we have prioritized more idiosyncratic risk opportunities as opposed to adding broader risk exposure. To fund these purchases, we reduced allocations to longer-duration BBs and Single Bs that we viewed as offering limited relative value.
  • The Fund’s sector exposure remains balanced. The Fund is overweight the Energy and Transportation sectors, which finished the quarter as the top sector overweights. In Energy, we are constructive on the sector given resilient economic growth with potential for higher inflation and commodity prices. As for Transportation, we favor airline and air travel companies where fundamentals continue to be strong. However, we reduced the Fund’s overweight in Basic Industry, specifically in Chemicals, Metals and Mining which carry exposure to weaker economies in Europe and China as well as Building Materials given sensitivity towards higher rates. The Fund’s top sector underweights remained Media, where companies have excessive levels of leverage, and Consumer Goods and Services, which is driven by relative valuations.
  • We increased floating rate exposure within the Fund. We generally believe that select exposures to non-high yield sectors can offer attractive risk-reward opportunities, potential portfolio diversification benefits, and avenues for liquidity. The Fund has the flexibility to toggle allocations to off-benchmark asset classes, such as bank loans and convertible bonds. As bond yields moved higher over the quarter, we added floating rate exposure to the Fund, specifically through bank loans, given their lower interest rate sensitivity relative to high yield.
  • We are constructive on high yield credit amid a supportive macroeconomic environment and strong issuer fundamentals. We remain optimistic about the potential for high yield credit to deliver solid returns in 2025. Notably, spread valuations continue to be close to historic tights, but our view is that these valuation levels are supported given the current fundamental strength and higher-quality ratings mix among high yield issuers. Additionally, a supportive macroeconomic environment in the U.S., and accommodative financial conditions should help translate into lower issuer defaults in the year ahead. A high starting yield and lower expected default environment in 2025 should bode well for the asset class, which can be a strategic allocation for investors looking for income. Key risk factors to watch remain a resurgence of inflation that upends the narrative accommodative monetary policy, a pivot by issuers to more non-credit-friendly uses of debt finance, and a macro or policy driven spike of interest rate volatility that would leave investors flipping to defensive with less focus on credit. We look to be dynamic with our positioning in the Fund given this potential for increased market fluctuations.

Portfolio Details as of 02/28/2025

Total Net Assets
$3.55 B
Average Effective Duration
3.13 Years
Average Maturity
4.8 Years
Number of Issues
699
Average Yield to Maturity
7.98%

To view definitions for the above Portfolio Details, Click here.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Vistra Operations Co LLC 7.750% 10/15/2031 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp 4.500% 08/15/2030 0.5%
Venture Global LNG Inc 9.500% 02/01/2029 0.5%
EMRLD Borrower LP / Emerald Co-Issuer Inc 6.625% 12/15/2030 0.4%
American Airlines Inc 7.250% 02/15/2028 0.4%
Hughes Satellite Systems Corp 6.625% 08/01/2026 0.4%
Nissan Motor Co Ltd 4.810% 09/17/2030 0.4%
JetBlue Airways Corp / JetBlue Loyalty LP 9.875% 09/20/2031 0.4%
Altice France SA 5.125% 07/15/2029 0.4%
Organon & Co / Organon Foreign Debt Co-Issuer BV 7.875% 05/15/2034 0.4%
% of Total Assets 4.4%
Holding Coupon Maturity Assets
Vistra Operations Co LLC7.750% 10/15/20310.6%
CCO Holdings LLC / CCO Holdings Capital Corp4.500% 08/15/20300.5%
Venture Global LNG Inc9.500% 02/01/20290.5%
J P MORGAN SECURITIES INC4.360% 02/03/20250.5%
American Airlines Inc7.250% 02/15/20280.5%
Cloud Software Group Inc9.000% 09/30/20290.5%
EMRLD Borrower LP / Emerald Co-Issuer Inc6.625% 12/15/20300.4%
Altice France SA5.125% 07/15/20290.4%
JetBlue Airways Corp / JetBlue Loyalty LP9.875% 09/20/20310.4%
Organon & Co / Organon Foreign Debt Co-Issuer BV7.875% 05/15/20340.4%
CSC Holdings LLC4.625% 12/01/20300.4%
Virgin Media Secured Finance PLC5.500% 05/15/20290.4%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.4%
Iron Mountain Inc5.625% 07/15/20320.4%
Hughes Satellite Systems Corp6.625% 08/01/20260.4%
VZ Secured Financing BV5.000% 01/15/20320.4%
CSC Holdings LLC11.250% 05/15/20280.4%
Nationstar Mortgage Holdings Inc7.125% 02/01/20320.4%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.4%
Alloy Finco Ltd0.005% 03/06/20280.3%
Loarre Investments Sarl6.500% 05/15/20290.3%
CSC Holdings LLC11.750% 01/31/20290.3%
OneMain Finance Corp7.500% 05/15/20310.3%
Jane Street Group / JSG Finance Inc7.125% 04/30/20310.3%
Rand Parent LLC8.500% 02/15/20300.3%
AMC Networks Inc4.250% 02/15/20290.3%
Lightning Power LLC7.250% 08/15/20320.3%
EquipmentShare.com Inc9.000% 05/15/20280.3%
ROCK Trust 2024-CNTR8.819% 11/13/20410.3%
DISH DBS Corp5.125% 06/01/20290.3%
DaVita Inc4.625% 06/01/20300.3%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.3%
United Airlines Inc4.625% 04/15/20290.3%
Carnival Corp6.000% 05/01/20290.3%
Crescent Energy Finance LLC7.625% 04/01/20320.3%
Cloud Software Group Inc6.500% 03/31/20290.3%
Saturn Oil & Gas Inc9.625% 06/15/20290.3%
Univision Communications Inc7.375% 06/30/20300.3%
CHS/Community Health Systems Inc5.250% 05/15/20300.3%
Virgin Media Finance PLC5.000% 07/15/20300.3%
Hughes Satellite Systems Corp5.250% 08/01/20260.3%
ATI Inc5.125% 10/01/20310.3%
Rain Carbon Inc12.250% 09/01/20290.3%
Coinbase Global Inc3.375% 10/01/20280.3%
Fortress Transportation and Infrastructure Investors LLC7.000% 05/01/20310.3%
Twilio Inc3.625% 03/15/20290.3%
Navient Corp11.500% 03/15/20310.3%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.3%
Hecla Mining Co7.250% 02/15/20280.3%
TGNR Intermediate Holdings LLC5.500% 10/15/20290.3%
Coeur Mining Inc5.125% 02/15/20290.3%
Staples Inc10.750% 09/01/20290.3%
Carvana Co9.000% 06/01/20300.3%
Synchrony Financial7.250% 02/02/20330.3%
McAfee Corp7.375% 02/15/20300.3%
Lumen Technologies Inc4.500% 01/15/20290.3%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp7.000% 07/15/20310.3%
LGI Homes Inc8.750% 12/15/20280.3%
CommScope LLC4.750% 09/01/20290.3%
ASP Unifrax Holdings Inc10.425% 09/30/20290.3%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.3%
Oceaneering International Inc6.000% 02/01/20280.3%
Coherent Corp5.000% 12/15/20290.3%
Helix Energy Solutions Group Inc9.750% 03/01/20290.3%
Comstock Resources Inc5.875% 01/15/20300.3%
SunCoke Energy Inc4.875% 06/30/20290.3%
Longfor Group Holdings Ltd3.950% 09/16/20290.3%
ASP Unifrax Holdings Inc7.100% 09/30/20290.3%
Noble Finance II LLC8.000% 04/15/20300.3%
Hilton Domestic Operating Co Inc4.000% 05/01/20310.2%
NRG Energy Inc10.250% 09/15/21730.2%
CNX Resources Corp6.000% 01/15/20290.2%
Iron Mountain Inc5.250% 07/15/20300.2%
Brandywine Operating Partnership LP8.875% 04/12/20290.2%
Inter Media and Communication SpA6.750% 02/09/20270.2%
EQM Midstream Partners LP7.500% 06/01/20300.2%
OneMain Finance Corp9.000% 01/15/20290.2%
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.125% 02/15/20310.2%
Venture Global LNG Inc8.375% 06/01/20310.2%
Viking Cruises Ltd9.125% 07/15/20310.2%
Freedom Mortgage Corp12.000% 10/01/20280.2%
Allied Universal Holdco LLC / Allied Universal Finance Corp6.000% 06/01/20290.2%
CNX Midstream Partners LP4.750% 04/15/20300.2%
Venture Global LNG Inc8.125% 06/01/20280.2%
Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.2%
Lumen Technologies Inc6.765% 04/15/20300.2%
Lumen Technologies Inc6.765% 04/16/20290.2%
California Resources Corp8.250% 06/15/20290.2%
Empire Resorts Inc7.750% 11/01/20260.2%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.2%
Goat Holdco LLC6.750% 02/01/20320.2%
Vital Energy Inc7.750% 07/31/20290.2%
Talen Energy Supply LLC8.625% 06/01/20300.2%
Altice France SA8.125% 02/01/20270.2%
Carvana Co9.000% 12/01/20280.2%
Waste Pro USA Inc7.000% 02/01/20330.2%
Mauser Packaging Solutions Holding Co9.250% 04/15/20270.2%
Valaris Ltd8.375% 04/30/20300.2%
GrafTech Global Enterprises Inc9.875% 12/23/20290.2%
Rakuten Group Inc9.750% 04/15/20290.2%
Trulieve Cannabis Corp8.000% 10/06/20260.2%
Studio City Finance Ltd5.000% 01/15/20290.2%
Aethon United BR LP / Aethon United Finance Corp7.500% 10/01/20290.2%
CommScope LLC8.250% 03/01/20270.2%
Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.2%
Herens Midco Sarl5.250% 05/15/20290.2%
Park-Ohio Industries Inc6.625% 04/15/20270.2%
Cerdia Finanz GmbH9.375% 10/03/20310.2%
Fortress Transportation and Infrastructure Investors LLC7.875% 12/01/20300.2%
Red Oak Power LLC8.310% 10/01/20300.2%
Optics Bidco SpA6.375% 11/15/20330.2%
Global Partners LP / GLP Finance Corp8.250% 01/15/20320.2%
Sunrise FinCo I BV4.875% 07/15/20310.2%
Seaspan Corp5.500% 08/01/20290.2%
Vornado Realty LP3.400% 06/01/20310.2%
Outfront Media Capital LLC / Outfront Media Capital Corp7.375% 02/15/20310.2%
Penn Entertainment Inc4.125% 07/01/20290.2%
Curaleaf Holdings Inc8.000% 12/15/20260.2%
Bausch Health Americas Inc9.250% 04/01/20260.2%
DISH Network Corp11.750% 11/15/20270.2%
Transocean Inc6.800% 03/15/20380.2%
ZF North America Capital Inc7.125% 04/14/20300.2%
Buckeye Partners LP4.125% 12/01/20270.2%
Victoria's Secret & Co4.625% 07/15/20290.2%
Sotheby's7.375% 10/15/20270.2%
Bausch + Lomb Corp8.375% 10/01/20280.2%
CP Atlas Buyer Inc7.000% 12/01/20280.2%
MIWD Holdco II LLC / MIWD Finance Corp5.500% 02/01/20300.2%
MEG Energy Corp5.875% 02/01/20290.2%
Nabors Industries Inc8.875% 08/15/20310.2%
Intesa Sanpaolo SpA4.198% 06/01/20320.2%
Sabre GLBL Inc8.625% 06/01/20270.2%
Flutter Treasury DAC6.375% 04/29/20290.2%
CITGO Petroleum Corp8.375% 01/15/20290.2%
Carriage Purchaser Inc7.875% 10/15/20290.2%
Eldorado Gold Corp6.250% 09/01/20290.2%
Goodyear Tire & Rubber Co/The5.250% 07/15/20310.2%
GFL Environmental Inc6.750% 01/15/20310.2%
NOVA Chemicals Corp9.000% 02/15/20300.2%
Baytex Energy Corp7.375% 03/15/20320.2%
Taseko Mines Ltd8.250% 05/01/20300.2%
Brand Industrial Services Inc10.375% 08/01/20300.2%
Miller Homes Group Finco PLC7.000% 05/15/20290.2%
Builders FirstSource Inc6.375% 06/15/20320.2%
Walgreens Boots Alliance Inc8.125% 08/15/20290.2%
Cushman & Wakefield US Borrower LLC8.875% 09/01/20310.2%
Algonquin Power & Utilities Corp4.750% 01/18/20820.2%
Saks Global Enterprises LLC11.000% 12/15/20290.2%
Brightline East LLC11.000% 01/31/20300.2%
VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.2%
Newmark Group Inc7.500% 01/12/20290.2%
Ardonagh Group Finance Ltd8.875% 02/15/20320.2%
LABL Inc8.625% 10/01/20310.2%
Smyrna Ready Mix Concrete LLC8.875% 11/15/20310.2%
Bread Financial Holdings Inc9.750% 03/15/20290.2%
FMG Resources August 2006 Pty Ltd6.125% 04/15/20320.2%
CNX Resources Corp7.375% 01/15/20310.2%
IHO Verwaltungs GmbH8.000% 11/15/20320.2%
First Quantum Minerals Ltd8.625% 06/01/20310.2%
Borr IHC Ltd / Borr Finance LLC10.000% 11/15/20280.2%
Vermilion Energy Inc6.875% 05/01/20300.2%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.2%
Block Inc6.500% 05/15/20320.2%
Champions Financing Inc9.087% 02/23/20290.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS9.500% 07/10/20360.2%
Navient Corp9.375% 07/25/20300.2%
Freedom Mortgage Holdings LLC9.125% 05/15/20310.2%
Ascent Resources Utica Holdings LLC / ARU Finance Corp5.875% 06/30/20290.2%
Aretec Group Inc10.000% 08/15/20300.2%
Sinclair Television Group Inc8.149% 04/23/20290.2%
McGraw-Hill Education Inc5.750% 08/01/20280.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Mercer International Inc5.125% 02/01/20290.2%
Genting New York LLC / GENNY Capital Inc7.250% 10/01/20290.2%
ACBL HLDG CORP0.000% 09/09/99990.2%
Landsea Homes Corp8.875% 04/01/20290.2%
Hunt Cos Inc5.250% 04/15/20290.2%
PennyMac Financial Services Inc7.875% 12/15/20290.2%
Vistra Corp7.000% 06/15/21730.2%
Belo Corp7.250% 09/15/20270.2%
CSC Holdings LLC6.500% 02/01/20290.2%
Cloud Software Group Inc8.250% 06/30/20320.2%
STL Holding Co LLC8.750% 02/15/20290.2%
Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC8.125% 02/15/20320.2%
LABL Inc9.500% 11/01/20280.2%
M/I Homes Inc4.950% 02/01/20280.2%
Texas Capital Bank NA5.250% 01/31/20260.2%
WaterBridge Midstream Operating LLC9.077% 06/27/20290.2%
Civitas Resources Inc8.625% 11/01/20300.2%
VistaJet Malta Finance PLC / Vista Management Holding Inc6.375% 02/01/20300.2%
Mersin Uluslararasi Liman Isletmeciligi AS8.250% 11/15/20280.2%
Crescent Energy Finance LLC7.375% 01/15/20330.2%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.2%
Gatwick Airport Finance PLC4.375% 04/07/20260.2%
Harvest Midstream I LP7.500% 05/15/20320.2%
TransDigm Inc4.625% 01/15/20290.2%
Vital Energy Inc7.875% 04/15/20320.2%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.875% 12/01/20320.2%
Genesis Energy LP / Genesis Energy Finance Corp8.875% 04/15/20300.2%
Popular Inc7.250% 03/13/20280.2%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.2%
Western Alliance Bancorp3.000% 06/15/20310.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Dermatology Intermediate Holdings III Inc9.806% 04/02/20290.2%
GrubHub Holdings Inc5.500% 07/01/20270.2%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.2%
WR Grace Holdings LLC5.625% 08/15/20290.2%
Vista Energy Argentina SAU7.625% 12/10/20350.2%
Coronado Finance Pty Ltd9.250% 10/01/20290.2%
StoneX Group Inc7.875% 03/01/20310.2%
Market Bidco Finco PLC5.500% 11/04/20270.2%
Aston Martin Capital Holdings Ltd10.000% 03/31/20290.2%
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC4.750% 04/15/20280.2%
Tenneco Inc8.000% 11/17/20280.2%
Freedom Mortgage Holdings LLC9.250% 02/01/20290.2%
888 Acquisitions Ltd10.750% 05/15/20300.2%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.2%
Sinclair Television Group Inc7.460% 04/03/20280.2%
Bausch Health Cos Inc4.875% 06/01/20280.2%
US Acute Care Solutions LLC9.750% 05/15/20290.2%
Owens & Minor Inc6.625% 04/01/20300.2%
Tecpetrol SA7.625% 01/22/20330.2%
Comstock Resources Inc6.750% 03/01/20290.2%
Civitas Resources Inc8.750% 07/01/20310.2%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.2%
TK Elevator US Newco Inc5.250% 07/15/20270.2%
Zegona Finance PLC8.625% 07/15/20290.2%
ROBLOX Corp3.875% 05/01/20300.2%
Gulfport Energy Operating Corp6.750% 09/01/20290.2%
Parkland Corp6.625% 08/15/20320.2%
Piedmont Operating Partnership LP6.875% 07/15/20290.2%
Jacobs Entertainment Inc6.750% 02/15/20290.2%
Minerals Technologies Inc5.000% 07/01/20280.2%
Archrock Partners LP / Archrock Partners Finance Corp6.625% 09/01/20320.2%
Park River Holdings Inc6.750% 08/01/20290.2%
Emergent BioSolutions Inc3.875% 08/15/20280.2%
JB Poindexter & Co Inc8.750% 12/15/20310.2%
PRA Group Inc8.875% 01/31/20300.2%
GGAM Finance Ltd8.000% 02/15/20270.2%
Canpack SA / Canpack US LLC3.875% 11/15/20290.2%
Kraken Oil & Gas Partners LLC7.625% 08/15/20290.2%
PennyMac Financial Services Inc5.750% 09/15/20310.2%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.2%
BellRing Brands Inc7.000% 03/15/20300.2%
Arko Corp5.125% 11/15/20290.2%
Real Hero Merger Sub 2 Inc6.250% 02/01/20290.2%
DPL Inc4.350% 04/15/20290.2%
Cinemark USA Inc7.000% 08/01/20320.2%
Heathrow Finance PLC6.625% 03/01/20310.2%
Garda World Security Corp8.375% 11/15/20320.2%
Allison Transmission Inc3.750% 01/30/20310.2%
Kimmeridge Texas Gas LLC8.500% 02/15/20300.2%
EnerSys6.625% 01/15/20320.2%
City Football Group Ltd7.413% 07/22/20300.2%
Maxim Crane Works Holdings Capital LLC11.500% 09/01/20280.2%
NGL Energy Operating LLC / NGL Energy Finance Corp8.375% 02/15/20320.2%
Algoma Steel Inc9.125% 04/15/20290.2%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer7.000% 02/01/20300.2%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.1%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.1%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.1%
NRG Energy Inc6.000% 02/01/20330.1%
ContourGlobal Power Holdings SA6.750% 02/28/20300.1%
ACProducts Holdings Inc6.375% 05/15/20290.1%
Sealed Air Corp6.500% 07/15/20320.1%
Arsenal AIC Parent LLC8.000% 10/01/20300.1%
Ivanhoe Mines Ltd7.875% 01/23/20300.1%
Ahlstrom Holding 3 Oy4.875% 02/04/20280.1%
Tank Holding Corp10.412% 03/31/20280.1%
LSB Industries Inc6.250% 10/15/20280.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Societe Generale SA9.375% 05/22/21730.1%
Wildfire Intermediate Holdings LLC7.500% 10/15/20290.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
ATI Inc7.250% 08/15/20300.1%
Staples Inc12.750% 01/15/20300.1%
AmeriTex HoldCo Intermediate LLC10.250% 10/15/20280.1%
Acuris Finance US Inc / Acuris Finance SARL9.000% 08/01/20290.1%
Olympus Water US Holding Corp9.750% 11/15/20280.1%
Rocket Software Inc6.500% 02/15/20290.1%
Global Medical Response Inc6.500% 10/01/20250.1%
Iris Holding Inc10.000% 12/15/20280.1%
Vermilion Energy Inc7.250% 02/15/20330.1%
Compass Power Generation LLC8.061% 04/16/20290.1%
Bombardier Inc7.000% 06/01/20320.1%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.1%
SM Energy Co7.000% 08/01/20320.1%
Plaskolite PPC Intermediate II LLC8.428% 12/15/20250.1%
Blue Racer Midstream LLC / Blue Racer Finance Corp7.000% 07/15/20290.1%
Provident Funding Associates LP / PFG Finance Corp9.750% 09/15/20290.1%
CHS/Community Health Systems Inc4.750% 02/15/20310.1%
OneMain Finance Corp7.125% 11/15/20310.1%
Olympus Water US Holding Corp7.250% 06/15/20310.1%
GEO Group Inc/The10.250% 04/15/20310.1%
PBF Holding Co LLC / PBF Finance Corp7.875% 09/15/20300.1%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.1%
LifePoint Health Inc11.000% 10/15/20300.1%
Nationstar Mortgage Holdings Inc6.500% 08/01/20290.1%
Sorik Marapi Geothermal Power PT7.750% 08/05/20310.1%
TEGNA Inc5.000% 09/15/20290.1%
Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC7.250% 02/15/20310.1%
Dream Finders Homes Inc8.250% 08/15/20280.1%
YPF SA8.250% 01/17/20340.1%
Seadrill Finance Ltd8.375% 08/01/20300.1%
CoreCivic Inc8.250% 04/15/20290.1%
SM Energy Co6.750% 08/01/20290.1%
YPF SA9.500% 01/17/20310.1%
Genesis Energy LP / Genesis Energy Finance Corp8.250% 01/15/20290.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
Spin Holdco Inc8.465% 03/06/20280.1%
RingCentral Inc8.500% 08/15/20300.1%
Hudbay Minerals Inc6.125% 04/01/20290.1%
VFH Parent LLC / Valor Co-Issuer Inc7.500% 06/15/20310.1%
Warrior Met Coal Inc7.875% 12/01/20280.1%
CHS/Community Health Systems Inc6.875% 04/15/20290.1%
OSI Systems Inc2.250% 08/01/20290.1%
Methanex Corp5.250% 12/15/20290.1%
Global Auto Holdings Ltd/AAG FH UK Ltd11.500% 08/15/20290.1%
Stride Inc1.125% 09/01/20270.1%
AltaGas Ltd7.200% 10/15/20540.1%
GYP Holdings III Corp4.625% 05/01/20290.1%
Buckeye Partners LP6.875% 07/01/20290.1%
Wyndham Hotels & Resorts Inc4.375% 08/15/20280.1%
Full House Resorts Inc8.250% 02/15/20280.1%
Sunoco LP / Sunoco Finance Corp7.000% 09/15/20280.1%
Vallourec SACA7.500% 04/15/20320.1%
Stena International SA7.250% 01/15/20310.1%
FMG Resources August 2006 Pty Ltd5.875% 04/15/20300.1%
CCO Holdings LLC / CCO Holdings Capital Corp6.375% 09/01/20290.1%
South Field Energy LLC8.264% 08/29/20310.1%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
Churchill Downs Inc4.750% 01/15/20280.1%
Entegris Inc3.625% 05/01/20290.1%
Terex Corp5.000% 05/15/20290.1%
Arcosa Inc4.375% 04/15/20290.1%
Forestar Group Inc3.850% 05/15/20260.1%
Mueller Water Products Inc4.000% 06/15/20290.1%
Bombardier Inc7.250% 07/01/20310.1%
Benteler International AG10.500% 05/15/20280.1%
Cinemark USA Inc5.250% 07/15/20280.1%
Bellis Finco PLC4.000% 02/16/20270.1%
Talos Production Inc9.000% 02/01/20290.1%
Iris Holding Inc9.315% 06/28/20280.1%
Bombardier Inc8.750% 11/15/20300.1%
Matador Resources Co6.500% 04/15/20320.1%
Borr IHC Ltd / Borr Finance LLC10.375% 11/15/20300.1%
CPI CG Inc10.000% 07/15/20290.1%
Resideo Funding Inc6.500% 07/15/20320.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Kodiak Gas Services LLC7.250% 02/15/20290.1%
TriNet Group Inc7.125% 08/15/20310.1%
Pan American Energy LLC/Argentina8.500% 04/30/20320.1%
Mitchell International Inc9.551% 06/17/20320.1%
Vertiv Group Corp4.125% 11/15/20280.1%
Tidewater Inc10.375% 07/03/20280.1%
EquipmentShare.com Inc8.625% 05/15/20320.1%
Shea Homes LP / Shea Homes Funding Corp4.750% 02/15/20280.1%
FirstCash Inc5.625% 01/01/20300.1%
VOC Escrow Ltd5.000% 02/15/20280.1%
PRA Group Inc5.000% 10/01/20290.1%
NCR Atleos Corp9.500% 04/01/20290.1%
Dana Inc4.250% 09/01/20300.1%
Jones Deslauriers Insurance Management Inc10.500% 12/15/20300.1%
Iliad Holding SASU8.500% 04/15/20310.1%
Range Resources Corp4.750% 02/15/20300.1%
Royal Caribbean Cruises Ltd6.250% 03/15/20320.1%
LCM Investments Holdings II LLC8.250% 08/01/20310.1%
Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
Asurion LLC9.663% 01/22/20290.1%
NESCO Holdings II Inc5.500% 04/15/20290.1%
Encino Acquisition Partners Holdings LLC8.750% 05/01/20310.1%
Shake Shack Inc0.000% 03/01/20280.1%
Beacon Roofing Supply Inc4.125% 05/15/20290.1%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
Molina Healthcare Inc3.875% 11/15/20300.1%
Boyne USA Inc4.750% 05/15/20290.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
Churchill Downs Inc5.750% 04/01/20300.1%
Iron Mountain Inc6.250% 01/15/20330.1%
LeMaitre Vascular Inc2.500% 02/01/20300.1%
GGAM Finance Ltd8.000% 06/15/20280.1%
PennyMac Financial Services Inc7.125% 11/15/20300.1%
NCL Corp Ltd5.875% 02/15/20270.1%
Post Holdings Inc4.625% 04/15/20300.1%
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp8.625% 06/15/20290.1%
Lumen Technologies Inc5.375% 06/15/20290.1%
Sea Ltd2.375% 12/01/20250.1%
Perrigo Finance Unlimited Co4.900% 06/15/20300.1%
Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC6.000% 01/15/20300.1%
Windstream Services LLC / Windstream Escrow Finance Corp8.250% 10/01/20310.1%
Victra Holdings LLC / Victra Finance Corp8.750% 09/15/20290.1%
Griffon Corp5.750% 03/01/20280.1%
Iceland Bondco PLC10.875% 12/15/20270.1%
Newell Brands Inc6.625% 09/15/20290.1%
Vita Coco Co Inc/The0.000% 09/09/99990.1%
South Bow Canadian Infrastructure Holdings Ltd7.625% 03/01/20550.1%
Wolverine World Wide Inc4.000% 08/15/20290.1%
LCM Investments Holdings II LLC4.875% 05/01/20290.1%
Group 1 Automotive Inc6.375% 01/15/20300.1%
Virtusa Corp7.125% 12/15/20280.1%
Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC9.000% 02/15/20290.1%
Vital Farms Inc0.000% 09/09/99990.1%
180 Medical Inc3.875% 10/15/20290.1%
Alcoa Nederland Holding BV7.125% 03/15/20310.1%
EQM Midstream Partners LP4.750% 01/15/20310.1%
KeyCorp5.000% 12/15/21730.1%
Kennedy-Wilson Inc4.750% 02/01/20300.1%
Transocean Inc8.250% 05/15/20290.1%
Vistra Operations Co LLC4.375% 05/01/20290.1%
EQM Midstream Partners LP6.375% 04/01/20290.1%
Woodward Inc0.000% 09/09/99990.1%
EMRLD Borrower LP / Emerald Co-Issuer Inc6.750% 07/15/20310.1%
Vibrantz Technologies Inc9.000% 02/15/20300.1%
Stena International SA7.625% 02/15/20310.1%
Resideo Funding Inc4.000% 09/01/20290.1%
Banco de Galicia y Buenos Aires SAU7.750% 10/10/20280.1%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.1%
HLF Financing Sarl LLC / Herbalife International Inc12.250% 04/15/20290.1%
Sprouts Farmers Market Inc0.000% 09/09/99990.1%
ASG Finance Designated Activity Co9.750% 05/15/20290.1%
ASPIRE BAKERIES HOLDINGS LLC8.550% 12/23/20300.1%
Star Parent Inc8.075% 09/30/20300.1%
Moss Creek Resources Holdings Inc8.250% 09/01/20310.1%
Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.1%
Axalta Coating Systems Dutch Holding B BV7.250% 02/15/20310.1%
Wabash National Corp4.500% 10/15/20280.1%
P&L Development LLC / PLD Finance Corp12.000% 05/15/20290.1%
Kennedy-Wilson Inc5.000% 03/01/20310.1%
LFS Topco LLC5.875% 10/15/20260.1%
Gap Inc/The3.875% 10/01/20310.1%
Azul Secured Finance LLP11.930% 08/28/20280.1%
Enstall Group BV9.514% 08/30/20280.1%
Seagate HDD Cayman8.500% 07/15/20310.1%
Univision Communications Inc8.500% 07/31/20310.1%
Pitney Bowes Inc7.250% 03/15/20290.1%
Integer Holdings Corp2.125% 02/15/20280.1%
ATS Corp4.125% 12/15/20280.1%
Aris Mining Corp8.000% 10/31/20290.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.1%
AG Issuer LLC6.250% 03/01/20280.1%
Venture Global LNG Inc9.000% 03/30/21730.1%
Trident TPI Holdings Inc12.750% 12/31/20280.1%
Dycom Industries Inc4.500% 04/15/20290.1%
Panther Escrow Issuer LLC7.125% 06/01/20310.1%
NRG Energy Inc2.750% 06/01/20480.1%
Lamb Weston Holdings Inc4.125% 01/31/20300.1%
Mobico Group PLC4.250% 02/26/21730.1%
Capstone Borrower Inc8.000% 06/15/20300.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
Masterbrand Inc7.000% 07/15/20320.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer4.875% 05/15/20290.1%
SPX FLOW Inc8.750% 04/01/20300.1%
MGM China Holdings Ltd7.125% 06/26/20310.1%
Caesars Entertainment Inc7.000% 02/15/20300.1%
Anastasia Parent LLC8.052% 08/11/20250.1%
Oscar AcquisitionCo LLC / Oscar Finance Inc9.500% 04/15/20300.1%
Talos Production Inc9.375% 02/01/20310.1%
Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed4.625% 03/01/20290.1%
Novelis Corp3.875% 08/15/20310.1%
Kronos Acquisition Holdings Inc8.288% 07/08/20310.1%
DocuSign Inc0.000% 09/09/99990.1%
Leviathan Bond Ltd6.750% 06/30/20300.1%
DaVita Inc6.875% 09/01/20320.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.1%
Raising Cane's Restaurants LLC9.375% 05/01/20290.1%
Commercial Metals Co4.125% 01/15/20300.1%
IAMGOLD Corp5.750% 10/15/20280.1%
Adient Global Holdings Ltd8.250% 04/15/20310.1%
Asbury Automotive Group Inc5.000% 02/15/20320.1%
Global Marine Inc7.000% 06/01/20280.1%
AdaptHealth LLC5.125% 03/01/20300.1%
Walgreens Boots Alliance Inc3.450% 06/01/20260.1%
Conair Holdings LLC8.166% 05/17/20280.1%
Royal Caribbean Cruises Ltd6.000% 02/01/20330.1%
XPO Inc7.125% 02/01/20320.1%
Clydesdale Acquisition Holdings Inc8.750% 04/15/20300.1%
Madison IAQ LLC5.875% 06/30/20290.1%
Directv Financing LLC8.875% 02/01/20300.1%
Cougar JV Subsidiary LLC8.000% 05/15/20320.1%
Novelis Inc6.875% 01/30/20300.1%
ZF North America Capital Inc6.875% 04/14/20280.1%
Guidewire Software Inc1.250% 03/15/20250.1%
Tyler Technologies Inc0.250% 03/15/20260.1%
YPF Energia Electrica SA7.875% 10/16/20320.1%
Bellis Acquisition Co PLC8.125% 05/14/20300.1%
Clue Opco LLC9.500% 10/15/20310.1%
Alta Equipment Group Inc9.000% 06/01/20290.1%
Raven Acquisition Holdings LLC6.875% 11/15/20310.1%
Life Time Inc6.000% 11/15/20310.1%
SK Invictus Intermediate II Sarl5.000% 10/30/20290.1%
Consolidated Communications Inc6.500% 10/01/20280.1%
Medline Borrower LP3.875% 04/01/20290.1%
Acadia Healthcare Co Inc5.000% 04/15/20290.1%
PG&E Corp7.375% 03/15/20550.1%
Cablevision Lightpath LLC5.625% 09/15/20280.1%
Albion Financing 2 Sarl8.750% 04/15/20270.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.1%
ON Semiconductor Corp3.875% 09/01/20280.1%
Lsf12 Crown US Commercial Bidco LLC8.559% 12/02/20310.1%
HUB International Ltd7.375% 01/31/20320.1%
Heartland Dental LLC / Heartland Dental Finance Corp10.500% 04/30/20280.1%
Boxer Parent Co Inc10.037% 07/30/20320.1%
US Foods Inc4.625% 06/01/20300.1%
Transocean Inc7.500% 04/15/20310.1%
Brink's Co/The6.750% 06/15/20320.1%
Carpenter Technology Corp7.625% 03/15/20300.1%
Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc6.625% 01/15/20320.1%
CPV Fairview LLC7.803% 08/14/20310.1%
NCL Corp Ltd8.125% 01/15/20290.1%
Samarco Mineracao SA9.000% 06/30/20310.1%
Foot Locker Inc4.000% 10/01/20290.1%
Esab Corp6.250% 04/15/20290.1%
Melco Resorts Finance Ltd7.625% 04/17/20320.1%
AthenaHealth Group Inc6.500% 02/15/20300.1%
Taylor Morrison Communities Inc5.875% 06/15/20270.1%
Level 3 Financing Inc4.500% 04/01/20300.1%
Seagate HDD Cayman8.250% 12/15/20290.1%
Clydesdale Acquisition Holdings Inc6.875% 01/15/20300.1%
Hess Midstream Operations LP5.125% 06/15/20280.1%
Boise Cascade Co4.875% 07/01/20300.1%
Gray Media Inc10.500% 07/15/20290.1%
Triumph Group Inc9.000% 03/15/20280.1%
Great Lakes Dredge & Dock Corp5.250% 06/01/20290.1%
EPIC Y-Grade Services LP10.046% 06/29/20290.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Celanese US Holdings LLC6.580% 07/15/20290.1%
SNF Group SACA3.375% 03/15/20300.1%
HAMILTON PROJECTS ACQUIROR LLC7.313% 05/30/20310.1%
GGAM Finance Ltd6.875% 04/15/20290.1%
Cactus Inc0.000% 09/09/99990.1%
Edge Finco PLC8.125% 08/15/20310.1%
ION Trading Technologies Sarl9.500% 05/30/20290.1%
Cogent Communications Group LLC7.000% 06/15/20270.1%
Sitio Royalties Operating Partnership LP / Sitio Finance Corp7.875% 11/01/20280.1%
LifePoint Health Inc9.875% 08/15/20300.1%
Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc8.000% 06/15/20290.1%
Armor Holdco Inc8.500% 11/15/20290.1%
CHS/Community Health Systems Inc6.125% 04/01/20300.1%
Nordstrom Inc4.375% 04/01/20300.1%
United States Steel Corp6.650% 06/01/20370.1%
Patrick Industries Inc6.375% 11/01/20320.1%
Century Communities Inc3.875% 08/15/20290.1%
1011778 BC ULC / New Red Finance Inc6.125% 06/15/20290.1%
Datadog Inc0.125% 06/15/20250.1%
Northriver Midstream Finance LP6.750% 07/15/20320.1%
Molina Healthcare Inc3.875% 05/15/20320.1%
Fair Isaac Corp4.000% 06/15/20280.1%
LifePoint Health Inc5.375% 01/15/20290.1%
Star Parent Inc9.000% 10/01/20300.1%
Shelf Drilling Holdings Ltd9.625% 04/15/20290.1%
Blackstone Mortgage Trust Inc7.750% 12/01/20290.1%
Modena Buyer LLC8.810% 07/01/20310.1%
Aston Martin Capital Holdings Ltd10.375% 03/31/20290.1%
INEOS Finance PLC7.500% 04/15/20290.1%
Nova Ltd0.000% 10/15/20250.1%
Energy Transfer LP8.000% 05/15/20540.1%
Ardonagh Finco Ltd7.750% 02/15/20310.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Permian Resources Operating LLC9.875% 07/15/20310.1%
Ocado Group PLC10.500% 08/08/20290.1%
Gray Media Inc5.375% 11/15/20310.1%
NRG Energy Inc7.000% 03/15/20330.1%
Global Auto Holdings Ltd/AAG FH UK Ltd8.375% 01/15/20290.1%
AMC Entertainment Holdings Inc7.500% 02/15/20290.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
Stonegate Pub Co Financing 2019 PLC10.750% 07/31/20290.1%
West China Cement Ltd4.950% 07/08/20260.1%
Flagstar Financial Inc7.573% 11/06/20280.1%
Sunnova Energy Corp5.875% 09/01/20260.1%
UBS Group AG7.750% 04/12/21730.1%
Navient Corp4.875% 03/15/20280.1%
Rivian Automotive Inc3.625% 10/15/20300.1%
Watco Cos LLC / Watco Finance Corp7.125% 08/01/20320.1%
Level 3 Financing Inc3.625% 01/15/20290.1%
Calumet Specialty Products Partners LP / Calumet Finance Corp9.750% 07/15/20280.1%
USA Compression Partners LP / USA Compression Finance Corp7.125% 03/15/20290.1%
Specialty Building Products Holdings LLC / SBP Finance Corp7.750% 10/15/20290.1%
Ingles Markets Inc4.000% 06/15/20310.1%
Brundage-Bone Concrete Pumping Holdings Inc7.500% 02/01/20320.1%
Sealed Air Corp6.875% 07/15/20330.1%
Iceland Bondco PLC10.875% 12/15/20270.1%
WaterBridge NDB Operating LLC8.351% 05/10/20290.1%
LifePoint Health Inc10.000% 06/01/20320.1%
NRG Energy Inc5.250% 06/15/20290.1%
Zebra Technologies Corp6.500% 06/01/20320.1%
BCPE North Star US Holdco 2 Inc8.428% 06/12/20280.1%
Transocean Aquila Ltd8.000% 09/30/20280.1%
Kosmos Energy Ltd7.500% 03/01/20280.1%
CD&R Firefly Bidco PLC8.625% 04/30/20290.1%
Perrigo Finance Unlimited Co6.125% 09/30/20320.1%
Camelot Return Merger Sub Inc8.750% 08/01/20280.1%
Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl8.750% 05/01/20290.1%
ION Trading Technologies Sarl5.750% 05/15/20280.1%
Lumen Technologies Inc4.125% 04/15/20290.1%
Constant Contact Inc11.802% 02/12/20290.1%
ILFC E-Capital Trust I6.149% 12/21/20650.1%
Mineral Resources Ltd8.500% 05/01/20300.1%
Bausch Health Cos Inc5.250% 02/15/20310.1%
Lumen Technologies Inc4.125% 04/15/20300.1%
Permian Resources Operating LLC6.250% 02/01/20330.1%
Matador Resources Co6.875% 04/15/20280.1%
Iron Mountain Inc7.000% 02/15/20290.1%
LABL Inc10.500% 07/15/20270.1%
Michaels Cos Inc/The7.875% 05/01/20290.1%
Chobani Holdco II LLC8.750% 10/01/20290.1%
Kodiak BP LLC8.063% 12/04/20310.1%
ILFC E-Capital Trust II6.399% 12/21/20650.1%
CHS/Community Health Systems Inc6.875% 04/01/20280.1%
Navient Corp5.500% 03/15/20290.1%
BCPE Grill Parent Inc9.264% 09/30/20300.1%
Sabre GLBL Inc11.250% 12/15/20270.1%
Ascent Resources Utica Holdings LLC / ARU Finance Corp6.625% 10/15/20320.1%
Williams Scotsman Inc6.625% 06/15/20290.1%
GIBSON BRANDS PRIVATE EQUITY0.000% 09/09/99990.1%
Mercer International Inc12.875% 10/01/20280.1%
Ellucian Holdings Inc9.050% 11/22/20320.1%
McGraw-Hill Education Inc7.375% 09/01/20310.1%
Eco Material Technologies Inc7.875% 01/31/20270.1%
Ocado Group PLC10.500% 08/08/20290.1%
Sunac China Holdings Ltd0.000% 09/30/20280.1%
Gulfport Energy Corp0.000% 09/09/99990.1%
Level 3 Financing Inc4.250% 07/01/20280.1%
GRAFTECH FINANCE INC10.302% 12/21/20290.1%
Sigma Holdco BV7.875% 05/15/20260.1%
Sinclair Television Group Inc8.125% 02/15/20330.1%
Altice France SA2.125% 02/15/20250.1%
Biocon Biologics Global PLC6.670% 10/09/20290.1%
FX USD/GBP 03/250.000% 03/14/20250.1%
Arcosa Inc6.875% 08/15/20320.1%
Alpha Generation LLC6.750% 10/15/20320.1%
Constant Contact Inc8.302% 02/10/20280.1%
FX USD/EUR 02/250.000% 02/20/20250.1%
UTEX INDUSTRIES0.000% 09/09/99990.1%
IMA Industria Macchine Automatiche SpA6.535% 04/15/20290.1%
New Frontera Holdings LLC16.300% 07/28/20260.0%
Herens Holdco Sarl4.750% 05/15/20280.0%
MicroStrategy Inc0.000% 02/15/20270.0%
UC HOLDINGS INC.0.000% 09/09/99990.0%
PROJECT ALPHA INTERME HLDG INC9.313% 11/22/20320.0%
Physician Partners LLC8.381% 12/22/20280.0%
Shimao Group Holdings Ltd5.200% 01/16/20270.0%
Lumen Technologies Inc7.650% 03/15/20420.0%
Calumet Specialty Products Partners LP / Calumet Finance Corp8.125% 01/15/20270.0%
Cheplapharm Arzneimittel GmbH5.500% 01/15/20280.0%
Freedom Mortgage Corp12.250% 10/01/20300.0%
UBS Group AG9.250% 05/13/21730.0%
Vital Energy Inc9.750% 10/15/20300.0%
ESC 144A HERTZ CORP0.000% 01/15/20280.0%
TransDigm Inc6.625% 03/01/20320.0%
Cornerstone Building Brands Inc6.125% 01/15/20290.0%
Wellpath Holdings Inc10.261% 10/01/20250.0%
New Frontera Holdings LLC5.800% 07/28/20280.0%
PHYSICIAN PARTNERS LLC0.103% 12/31/20290.0%
CD&R Firefly Bidco PLC8.625% 04/30/20290.0%
Acushnet Co7.375% 10/15/20280.0%
FRONTERA GENERATION0.000% 09/09/99990.0%
Bausch Health Cos Inc5.250% 01/30/20300.0%
ACBL HLDG CORP0.000% 09/09/99990.0%
Cornerstone Building Brands Inc9.500% 08/15/20290.0%
Elwood Energy LLC8.159% 07/05/20260.0%
EnerSys4.375% 12/15/20270.0%
CHINOS INTERMEDIATE 2 LLC0.000% 09/09/99990.0%
National Mentor Holdings Inc8.159% 03/02/20280.0%
New Enterprise Stone & Lime Co Inc5.250% 07/15/20280.0%
WELLPATH HOLDINGS INC0.055% 06/09/20250.0%
WELLPATH HOLDINGS INC0.115% 06/09/20250.0%
South Field Energy LLC8.264% 08/29/20310.0%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
US 5YR NOTE (CBT) Mar250.000% 04/03/20250.0%
Sunac China Holdings Ltd7.000% 09/30/20290.0%
Lumen Technologies Inc7.600% 09/15/20390.0%
Sunac China Holdings Ltd6.750% 09/30/20280.0%
Sunac China Holdings Ltd0.000% 09/09/99990.0%
CHINOS INTERMEDIATE 2 LLC0.000% 09/09/99990.0%
Sunac China Holdings Ltd6.500% 09/30/20270.0%
FX GBP/USD 03/250.000% 03/14/20250.0%
FGI Operating Co LLC12.000% 12/31/20250.0%
Sunac China Holdings Ltd7.250% 09/30/20300.0%
Shimao Group Holdings Ltd3.450% 01/11/20310.0%
Sunac China Holdings Ltd6.000% 09/30/20250.0%
Sunac China Holdings Ltd6.250% 09/30/20260.0%
GRAFTECH FINANCE INC10.302% 12/21/20290.0%
FX GBP/USD 03/250.000% 03/14/20250.0%
FX GBP/USD 03/250.000% 03/14/20250.0%
CLAIRES HOLDINGS0.000% 09/09/99990.0%
National Mentor Holdings Inc8.160% 03/02/20280.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
FX USD/GBP 03/250.000% 03/14/20250.0%
PERSIMMON MIDCO LLC0.000% 09/09/99990.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
Tonon Luxembourg SA6.500% 10/31/20240.0%
US 10YR NOTE (CBT)Mar250.000% 03/31/20250.0%
FX USD/GBP 03/250.000% 03/14/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
US 10yr Ultra Fut Mar250.000% 03/31/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
ASP Unifrax Holdings Inc0.025% 09/28/20290.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
US LONG BOND(CBT) Mar250.000% 03/31/20250.0%
FX EUR/USD 02/250.000% 02/20/20250.0%
US 2YR NOTE (CBT) Mar250.000% 04/03/20250.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 02/28/2025

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Energy arrowUp0.4%
Real Estate 0.0%
Automotive arrowUp1.1%
Insurance arrowUp0.4%
Leisure arrowDown0.3%
Retail arrowUp0.4%
Services arrowUp0.1%
Capital Goods arrowUp0.1%
Consumer Goods 0.0%
Telecommunications arrowDown0.4%
Media arrowUp0.5%
Basic Industry arrowDown0.1%
Healthcare arrowDown0.4%
Transportation 0.0%
Banking arrowDown0.3%
Financial Services arrowUp0.1%
Utility arrowDown0.4%
Mortgage Securities 0.0%
Consumer, Non-Cyclical 0.0%
Technology & Electronics arrowDown1.1%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 03/24/2025
$0.07154
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 02/28/2025 $0.03503 $6.42
Daily Daily 01/31/2025 $0.03651 $6.42

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 03/31/2025
Daily Daily 04/30/2025
Daily Daily 05/31/2025
Daily Daily 06/30/2025
Daily Daily 07/31/2025
Daily Daily 08/31/2025
Daily Daily 09/30/2025
Daily Daily 10/31/2025
Daily Daily 11/30/2025
Daily Daily 12/31/2025

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 - $0.0100 $0.0100 $7.45
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 03/24/2025

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $6.51
$100,000 to $249,999 1.75% 1.50% $6.47
$250,000 to $499,999 1.25% 1.00% $6.44
Greater than $500,000 0.00% 1.00% $6.36

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

Expense Ratio

Fund Gross Expense Ratio 0.92%
Fund Net Expense Ratio 0.92%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Annual Tailored Shareholder Report
Publish Date:11/03/2015
Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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